Old Dominion Correlations

ODFL Stock

USD 167.09 1.64 0.99%

The current 90-days correlation between Old Dominion Freight and ArcBest Corp is 0.67 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Old Dominion moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Old Dominion Freight moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Old Dominion Correlation With Market

Significant diversification

The correlation between Old Dominion Freight and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Old Dominion Freight and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Old Dominion Freight. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Old Stock

0.69	CP	Canadian Pacific Railway	Pair Corr
0.77	VLRS	Volaris	Pair Corr
0.71	WERN	Werner Enterprises	Pair Corr
0.68	AAL	American Airlines	Pair Corr
0.82	ALK	Alaska Air Group	Pair Corr
0.7	CNI	Canadian National Railway	Pair Corr
0.82	CSX	CSX Corporation	Pair Corr
0.78	DAL	Delta Air Lines Earnings Call This Week	Pair Corr
0.77	KNX	Knight Transportation	Pair Corr
0.81	NSC	Norfolk Southern	Pair Corr
0.81	UAL	United Airlines Holdings	Pair Corr
0.8	XPO	XPO Logistics	Pair Corr
0.79	HTLD	Heartland Express	Pair Corr
0.62	MESA	Mesa Air Group	Pair Corr
0.66	MRTN	Marten Transport	Pair Corr
0.72	AIRT	Air T Inc	Pair Corr
0.65	ALGT	Allegiant Travel	Pair Corr
0.85	SAIA	Saia Inc	Pair Corr
0.76	ARCB	ArcBest Corp	Pair Corr
0.67	SKYW	SkyWest	Pair Corr
0.68	SNDR	Schneider National	Pair Corr
0.85	SNCY	Sun Country Airlines	Pair Corr
0.7	TFII	TFI International	Pair Corr

Moving against Old Stock

0.48

LUV

Southwest Airlines

Pair Corr

Related Correlations Analysis

	ARCB	MRTN	WERN	KNX	RXO	SAIA	SNDR	HTLD	TFII	ULH
ARCB		0.95	0.96	0.95	0.8	0.96	0.96	0.95	0.96	0.83	ARCB
MRTN	0.95		0.98	0.91	0.82	0.9	0.95	0.91	0.91	0.86	MRTN
WERN	0.96	0.98		0.96	0.81	0.93	0.98	0.94	0.94	0.86	WERN
KNX	0.95	0.91	0.96		0.79	0.95	0.96	0.95	0.92	0.79	KNX
RXO	0.8	0.82	0.81	0.79		0.72	0.78	0.75	0.77	0.78	RXO
SAIA	0.96	0.9	0.93	0.95	0.72		0.93	0.97	0.95	0.76	SAIA
SNDR	0.96	0.95	0.98	0.96	0.78	0.93		0.94	0.94	0.87	SNDR
HTLD	0.95	0.91	0.94	0.95	0.75	0.97	0.94		0.93	0.79	HTLD
TFII	0.96	0.91	0.94	0.92	0.77	0.95	0.94	0.93		0.87	TFII
ULH	0.83	0.86	0.86	0.79	0.78	0.76	0.87	0.79	0.87		ULH
	ARCB	MRTN	WERN	KNX	RXO	SAIA	SNDR	HTLD	TFII	ULH

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Risk-Adjusted Indicators

There is a big difference between Old Stock performing well and Old Dominion Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Old Dominion's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ARCB	1.67	(0.42)	(1.38)	3.68	(4.43)	9.75
MRTN	1.24	(0.19)	1.49	2.82	(2.64)	7.62
WERN	1.27	(0.30)	(45.92)	2.35	(2.82)	8.47
KNX	1.37	(0.30)	1.24	2.97	(2.64)	8.09
RXO	2.28	(0.21)	(0.20)	3.67	(4.47)	21.26
SAIA	2.27	(0.41)	(2.73)	3.84	(4.72)	15.36
SNDR	1.23	(0.38)	1.21	2.27	(3.10)	7.76
HTLD	1.46	(0.24)	(0.31)	2.65	(3.04)	8.35
TFII	1.82	(0.83)	(1.98)	2.14	(5.03)	23.82
ULH	2.31	(0.84)	1.46	3.82	(4.76)	22.95

Old Dominion Corporate Management

Cecil Overbey	Sr. VP of Marketing Pricing and Strategic Devel.	Profile
Clayton Brinker	VP Officer	Profile
Sam Faucette	Vice Compliance	Profile
Kimberly Maready	Principal Accounting Officer	Profile

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